MINSK, 8 February (BelTA) - Minsk Tractor Works increased exports to non-CIS countries by 18.5% in 2020, BelTA learned from the press service of the Minsk Tractor Works (MTZ trademark).
“Despite the coronavirus pandemic, the plant worked well in foreign markets increasing export by almost 20%. Sales to Russia and other CIS countries were slightly lower than planned but we did the best of this situation," said Mikhail Kadnikov, Deputy Director General of Marketing at MTZ. All in all, the export totaled $530 million in 2020.
Russia remained the main importer of MTZ vehicles in 2020, followed by Kazakhstan and Ukraine. All in all, MTZ sold its products to 45 countries, including nine new markets (Burundi, the UK, Haiti, Guatemala, Guinea, Dominican Republic, Zimbabwe, Indonesia, Spain).
As of 1 January 2021, warehouse stocks of tractors and vehicles decreased by 12.4% year-on-year to 3,222 units. The inventory stock declined due to increased sales.
“It is important to understand that depending on the model the standard production process embraces the order of materials and components, assembly and shipment. It takes from 40 working days. In order to execute orders promptly, we need to have the stock of equipment in the warehouse, anticipating the needs of buyers," Mikhail Kadnikov said. In 2021, the inventory ratio of finished products should not exceed 1.45.
MTZ is one of the world's largest manufacturers of agricultural machines. Apart from the main factory the holding company MTZ comprises ten enterprises. As many as 25 assembly enterprises have been established abroad. MTZ products are represented in over 60 countries.
